Guest post by Joe Hoft
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The US spends more than 17 times that of socialist China on social programs! According to the Ministry of Human Resources and Social Security of the People’s Republic of China, the total amount of outflows for China’s social programs in 2013 was $451 billion USD (2.8 trillion CNY). On the other side of the Pacific, the US spent $2.2 trillion USD in 2013 on health, welfare and pension (old age) benefits. Assuming these numbers are correct, then the US spent roughly five times that of socialist China in social program costs. However, when accounting for these numbers on a per capita basis, with China having more than 1.361 billion people and the US with 316 million people in 2013, then the result is that the US spends 17 times that of socialist China. These results again lead to the question – Which is the socialist country – the US or China?
This ratio is actually better than reported previously for the year 2011. In 2011 the US spent more than 30 times that of China on social programs. The reason for the drop in this ratio is not due to the US spending less but rather it is due to China reporting more in social program outlays. In 2011 China reported social program outlays of $287 USD (1.8 trillion CNY) while the US spent somewhere near $2 trillion.